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    3941   JP3981400009

RENGO CO., LTD.

(3941)
  Report
Delayed Japan Exchange  -  10:08:26 2023-03-21 pm EDT
837.00 JPY   +0.48%
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Japan's labour unions confirm three-decade-high wage hikes of 3.8%

03/17/2023 | 04:43am EDT
Pedestrians are silhouetted as they walk past the Tokyo Tower in Tokyo

TOKYO (Reuters) - Japan's major companies have agreed at their annual labour talks with average wage hikes of 3.8% for the coming fiscal year, the largest raise in about three decades, trade union confederation Rengo said on Friday.

The preliminary survey of 805 unions affiliated with Rengo showed the average hike rate of 11,844 yen ($89) per month, according to the labour organisation.

While changes in the way the survey is conducted make it difficult to compare with historical data before 2013, the average pay hike of more than 3% is achieved for the first time since 1994, Rengo officials told a news conference on the spring wage talks.

     Top Japanese firms agreed to their largest pay rises in a quarter century at the talks that wrapped up on Wednesday, heeding, at least for now, Prime Minister Fumio Kishida's call for higher wages to offset rising living costs. 

Rengo, also known as the Japanese Trade Union Confederation, will update the pay negotiation results in several stages before compiling the final results in summer.

($1 = 133.0700 yen)

(Reporting by Kantaro Komiya and Tetsushi Kajimoto, Editing by Angus MacSwan)

By Kantaro Komiya and Tetsushi Kajimoto


ę Reuters 2023
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Financials
Sales 2023 855 B 6 466 M 6 466 M
Net income 2023 23 910 M 181 M 181 M
Net Debt 2023 291 B 2 199 M 2 199 M
P/E ratio 2023 8,63x
Yield 2023 2,98%
Capitalization 206 B 1 560 M 1 560 M
EV / Sales 2023 0,58x
EV / Sales 2024 0,53x
Nbr of Employees 20 141
Free-Float 77,3%
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Number of Analysts 5
Last Close Price 833,00 JPY
Average target price 1 102,00 JPY
Spread / Average Target 32,3%
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Managers and Directors
Kiyoshi Otsubo Chairman & Chief Executive Officer
Yosuke Kawamoto President, COO & Representative Director
Yasuhiro Baba Executive Officer
Hiroshi Ebihara Head-Research & Technology Development
Mitsumasa Yokota Head-Administration & Technology Development
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